Ukraine received the first tranche of aid from the EU

Украина получила первый транш помощи от ЕС

The European Union has transferred Ukraine the first tranche of half a billion euros in macrofinancial help. The funds will be credited to the state budget. About it told the Vice-President of the European Commission Valdis Dombrovskis.

“Today, the EU allocates EUR 500 mln in macro-financial assistance to Ukraine. The EU continues its active work in Ukraine and support for its people,” he wrote on Twitter.

In late November the European Commission approved the allocation to Ukraine the first tranche of macro-financial assistance.

We will remind, on 14 September, Ukraine and the European Union signed a Memorandum on granting aid worth 1 billion euros in two tranches of 500 million euros each. Later the President Petro Poroshenko signed the Verkhovna Rada adopted the relevant law.

The second tranche should arrive in the spring of 2019, the evaluation of the fulfilment of Ukraine’s reform efforts in several sectors of the economy and public administration, in particular, the system of public financial management, reforms in the energy sector and tax system.

In December 2017, the European Commission refused to provide Ukraine the third tranche of macro-financial assistance in the amount of 600 million euros because of the failure of a number of requirements. Petro Poroshenko said that from 2018 must earn a new program with a volume of approximately 1.8 billion euros.